Market Insights Snapshot
In the Washington market, Swifts has been maintaining a consistent performance in the Edible category, holding onto the 8th rank for four consecutive months from July to October 2023. This steady ranking reflects a solid consumer base and a strong position in the market. However, the brand's performance in the Pre-Roll category leaves room for improvement. Swifts' ranking in this category has been fluctuating in the 80s, which indicates that it's not among the top 20 brands in this category for these months. This could be viewed as an opportunity for the brand to strengthen its position in the Pre-Roll category.
On the other hand, Swifts has been showing a promising upward trend in the Tincture & Sublingual category. Starting at rank 8 in July, the brand managed to move up to rank 7 by October 2023. This positive momentum signifies that Swifts is gaining popularity and market share in this category. However, it's worth noting that despite this improvement in ranking, the sales in October 2023 have slightly decreased compared to September 2023. This could be due to a variety of factors, such as seasonal trends or increased competition, and it would be interesting to see how Swifts responds to these market dynamics in the upcoming months.
In the edible category of Washington state, Swifts has maintained a steady rank of 8 from July to October 2023, indicating a consistent performance. However, it's worth noting that two of its competitors, Honu and Verdelux, are closely trailing behind Swifts, with ranks of 9 and 10 respectively. On the other hand, Smokiez Edibles and Green Revolution are ranked higher than Swifts, with Smokiez Edibles improving its rank from 7 to 6, and Green Revolution, despite a drop in rank from 5 to 7, still outperforms Swifts. In terms of sales, while Swifts has seen a steady increase, its competitors are showing mixed trends. Honu and Verdelux are also seeing an increase in sales, while Green Revolution has seen a decrease. Smokiez Edibles, despite a dip in September, has rebounded with higher sales in October.
In October 2023, the top-performing product from Swifts was the Pink Lemonade Gummies 10-Pack (500mg) in the Edible category, maintaining its consistent first-place ranking from previous months. The product generated a sales figure of 2573 units for the month. The second top-performing product was the Dark Chocolate Truffles 10-Pack (100mg), also in the Edible category, which held its second-place ranking. The Strawberry & Pineapple Gummies 10-Pack (100mg) moved up to third place from its previous fourth-place ranking in September. The Sativa Peanut Butter Milk Chocolate 10-Pack (100mg) and Pink Lemonade & Fruit Punch Gummies 10-Pack (100mg) rounded out the top five, with the latter dropping two spots from its third-place ranking in September.